- Many years ago I'd just finished presenting a reportto one of my clientsand I'd just delivered my biggest finding.They were spending way too much on their HR function.That's when the client glanced at the reportand then glanced back at me and said, "Prove it."As consultants, our findings must be backed up by evidence.And today, this usually means data-driven evidence.You may have heard the termbusiness intelligence used before.And I've stopped to sometimes ask peoplewhat they think this term actually means.

I get all kinds of answers, but here are just a few.Some people say it means big data.Others think it simply means dashboards.Forecasting and predictive analyticsis another common response too.And then there are others that think business intelligencehas to do with data visualization productssuch as Tableau, Cognos, and SAP.Now, in a sense,all these responses combined give you the answer.Business intelligence, or commonly known as just BI,is the term used to describehow information that organizations collector have access to can provide critical business insightsand in turn be used to inform management decisions.

You may think BI is just another corporate buzzword,but did you know it's actually been aroundfor more than a century?In fact, we've been using itas part of common business language since the '90s.And as the amount of data available continues to grow,the use of BI in the corporate worldis more relevant today than ever before.So what does BI actually do?Well, the insights gathered from business intelligencecan help answer key questions such aswhat's driving my business today?What are the emerging trendsthat business leaders need to be aware of?What are the reasons for these emerging trends?And lastly, what is likely to happenif the client doesn't intervene?This is sometimes referred to as predictive analytics.

With BI insights, organizations can decideto discontinue productsthat aren't meeting their sales targetsor, on the flip side, expand their operationsbecause of increased consumer demand.Okay, let's go back to my clientthat looked me square in the eye and told me to prove it.Prove that they were spending way too much on their HR.By using business intelligence, I established KPIs,that's key performance indicators,that I knew were common across the industry.

And this helped me provethat their business spent 20% per annum morethan similar sized businesses in their industry.As consultants,when you and I use business intelligence effectively,we empower our clients with the insights they needto strengthen their businesses.

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Released

11/27/2018

Business intelligence (BI) can provide key insights for your consulting business—leveraging the power of quantitative and qualitative data and giving you the actionable information you need to help clients make business decisions. This course explains what business intelligence is, why it's important, and how consultants can tap into business intelligence when delivering outcomes for clients. Instructor Joshua Rischin has been a consultant to over 40 organizations. Here he shares techniques and examples from his career with you. Learn how to profile the client's business, gather high-quality and relevant data, and present your insights and recommendations to clients with detailed visualizations and reports.